ICMUX vs. PIMIX
ICMUX (Intrepid Income Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both Multisector Bonds funds. Over the past 10 years, ICMUX returned 5.83%/yr vs 4.72%/yr for PIMIX. At a 0.33 correlation, their price movements are largely independent. ICMUX charges 0.91%/yr vs 0.54%/yr for PIMIX.
Performance
ICMUX vs. PIMIX - Performance Comparison
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Returns By Period
In the year-to-date period, ICMUX achieves a 2.32% return, which is significantly higher than PIMIX's 1.00% return. Over the past 10 years, ICMUX has outperformed PIMIX with an annualized return of 5.83%, while PIMIX has yielded a comparatively lower 4.72% annualized return.
ICMUX
- 1D
- 0.00%
- 1M
- 0.25%
- YTD
- 2.32%
- 6M
- 2.70%
- 1Y
- 7.67%
- 3Y*
- 9.67%
- 5Y*
- 6.25%
- 10Y*
- 5.83%
PIMIX
- 1D
- 0.09%
- 1M
- 1.19%
- YTD
- 1.00%
- 6M
- 1.60%
- 1Y
- 7.88%
- 3Y*
- 7.73%
- 5Y*
- 3.58%
- 10Y*
- 4.72%
ICMUX vs. PIMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICMUX Intrepid Income Fund | 2.32% | 8.16% | 10.43% | 10.90% | -3.17% | 10.02% | 8.77% | 4.65% | 0.53% | 3.79% |
PIMIX PIMCO Income Fund Institutional Class | 1.00% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 0.63% | 8.63% |
Correlation
The correlation between ICMUX and PIMIX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2010 | 0.33 |
The correlation between ICMUX and PIMIX shifts across timeframes, from 0.33 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ICMUX vs. PIMIX — Risk / Return Rank
ICMUX
PIMIX
ICMUX vs. PIMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Intrepid Income Fund (ICMUX) and PIMCO Income Fund Institutional Class (PIMIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ICMUX | PIMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +3.98 | ||
| Omega ratioGain probability vs. loss probability | 2.04 | 1.37 | +0.68 |
| Calmar ratioReturn relative to maximum drawdown | 5.92 | 2.15 | +3.77 |
| Martin ratioReturn relative to average drawdown | 20.66 | 7.27 | +13.39 |
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Drawdowns
ICMUX vs. PIMIX - Drawdown Comparison
The maximum ICMUX drawdown since its inception was -8.77%, smaller than the maximum PIMIX drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for ICMUX and PIMIX.
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Drawdown Indicators
| ICMUX | PIMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.77% | -13.39% | +4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -1.34% | -3.69% | +2.35% |
Max Drawdown (3Y)Largest decline over 3 years | -3.11% | -3.84% | +0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -5.64% | -13.34% | +7.70% |
Max Drawdown (10Y)Largest decline over 10 years | -8.77% | -13.39% | +4.62% |
Current DrawdownCurrent decline from peak | -0.11% | -0.93% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -1.69% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 1.09% | -0.71% |
Volatility
ICMUX vs. PIMIX - Volatility Comparison
The current volatility for Intrepid Income Fund (ICMUX) is 0.55%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.42%. This indicates that ICMUX experiences smaller price fluctuations and is considered to be less risky than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICMUX | PIMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 1.42% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 3.39% | -1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 4.17% | -2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.66% | 4.86% | -2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.58% | 4.26% | -1.68% |
ICMUX vs. PIMIX - Expense Ratio Comparison
ICMUX has a 0.91% expense ratio, which is higher than PIMIX's 0.54% expense ratio.
Dividends
ICMUX vs. PIMIX - Dividend Comparison
ICMUX's dividend yield for the trailing twelve months is around 7.55%, more than PIMIX's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICMUX Intrepid Income Fund | 7.55% | 7.96% | 7.85% | 9.10% | 8.17% | 5.99% | 5.56% | 3.35% | 3.07% | 2.86% | 3.01% | 3.53% |
PIMIX PIMCO Income Fund Institutional Class | 5.83% | 6.01% | 6.27% | 6.21% | 4.98% | 4.02% | 4.88% | 5.83% | 5.66% | 5.37% | 5.52% | 7.88% |
Frequently Asked Questions
ICMUX and PIMIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIMIX has higher volatility (1.42%) compared to ICMUX (0.55%). In terms of maximum drawdown, ICMUX dropped -8.77% vs PIMIX's -13.39%.
ICMUX currently has the higher Sharpe Ratio (4.09 vs 1.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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